FTW - From The Wallet
Document last updated: March 21st, 2023.
FTW (From The Wallet) is a decentralized Limit-Order trading platform that facilitates peer-to-peer (P2P) trading directly from users' wallets. It enables secure trading without relinquishing control of users' cryptocurrencies or NFTs during the transaction process.
Benefits of listing a project on FTW:
- 1.No negative price impact: FTW trades do not impact the asset's price negatively as it operates on a P2P basis, bypassing the liquidity of decentralized and centralized exchanges.
- 2.Cost-effectiveness: FTW offers lower fees than traditional trades because they are blockchain transfers rather than buy or sell orders through multiple routes.
Supported networks and tradable assets:
- Initially, FTW supports assets on Ethereum (ERC-20) and Binance Smart Chain (BEP-20).
- The platform's expansion will encompass multiple blockchains that operate on the Ethereum Virtual Machine (EVM).
- Users can trade listed cryptocurrencies and, in the future, non-fungible tokens (NFTs) once the NFT trading function is developed, tested, and audited.
- The contracts underpinning the FTW Limit-Order trading platform undergo comprehensive testing and third-party audits before launch to ensure robust security measures.
- Membership fees contribute to rewards for Stakers, marketing initiatives, and project growth/sustainability.
- Specific percentages for fee distribution are yet to be determined during the platform's development.
Membership vs. Per Transaction Fees:
- Users can opt for memberships that renew every 30 days, allowing them to create FTW trades (buy or sell) free of charge during the paid month.
- Non-members must pay a fixed fee for all buys and sells. The exact fee amount is to be determined.
RFI tokens and token taxes on FTW:
- If a token incorporates RFI (Reflect.Finance) tokenomics, the passive percentage will be automatically distributed to users.
- Standard token taxes for buying and selling cannot be applied on FTW as no contract intermediary designates a recipient wallet address.